Almost six years after the U.S. Securities and Exchange Commission (SEC) last made a formal statement about achieving a single set of high-quality, global accounting standards, the SEC announced it will consider a staff recommendation about how to further incorporate IFRS into the U.S. financial reporting system. This may lead to a proposed rule in the first half of 2016.
Read a December 2015 report prepared by KPMG LLP: Defining Issues: SEC May Consider Supplementary Reporting under IFRS in 2016
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